Jakarta, CNBC Indonesia – Two listed shares of Lippo Group, the manager of Hypermart PT Matahari Putra Prima Tbk (MPPA) and MPPA controller PT Multipolar Tbk (MLPL), compactly collapsed more than 6% in early trading today, Tuesday (5/10/2021).
The collapse of the two shares occurred amid news that MLPL together with the GoTo Group, which is also an MPPA investor with a portion of less than 5%, expressed their willingness to participate in taking new shares to be issued by MPPA.
According to data from the Indonesia Stock Exchange (IDX), at 09.53 WIB, MPPA shares sank to touch the lower auto rejection (ARB) limit of 5.67% to Rp 925/share with a transaction value of Rp 22.80 billion, continuing their decline for 2 consecutive days.
With this, in the week MPPA shares fell 12.26%, while in the month they fell 2.12%. As for the year to date (ytd) ‘skyrocketed’ 780.95%.
In the midst of this weakening, foreigners made a net purchase of Rp 829.37 million in the regular market.
For three dollars, MLPL’s shares also fell 6.36% to Rp 515/share with a transaction value of Rp 40 billion. With this, MLPL shares have been immersed in the red zone for 3 consecutive days.
As a result, in a week MLPL shares fell 10.43%, while in a month rose 4.25%. Then, in terms of ytd this stock ‘fly’ 625.35%.
Meanwhile, foreigners recorded a net purchase of Rp 1.20 billion in MLPL shares in the regular market and a net purchase of Rp 321.75 billion in the negotiated and cash market.
Previously, MPPA management, in an information disclosure on the IDX, this Tuesday (5/10), stated that the company will issue new shares which are scheduled to be completed in the 4-2021 quarter.
However, it is not stated in detail whether through the mechanism of issuing new shares with Pre-emptive Rights (HMETD) or rights issue or without Pre-emptive Rights or private placements.
“This capital increase, in the form of the issuance of new shares, is scheduled to be completed in the fourth quarter of 2021,” wrote MPPA management, in an information disclosure on the IDX, Tuesday (5/10).
“Multipolar, a leading investor with a strategic position at the intersection of the digital and consumer sectors, including investments in more than 40 technology companies across various stages in Indonesia and the region, and the GoTo Group, the largest technology group in Indonesia, will participate in this capital increase,” wrote the statement. MPPA management again.
MPPA, which manages Hypermart, has a network of more than 200 outlets in 72 cities, a national logistics and distribution platform, and a 25% market share in the supermarket and hypermarket categories according to NielsenIQ research data.
MPPA management stated plans to increase capital with the aim of increasing market share and investing in an omnichannel strategy.
“Hypermart has successfully captured the opportunity for increasing e-grocery shopping patterns during the pandemic, with online sales increasing more than four times compared to last year, positioning Hypermart as the leader of omnichannel retail in Indonesia,” MPPA wrote.
In the official statement, Elliot Dickson, CEO of MPPA, said that the success of Hypermart’s capital increase will provide funds for the company to grow, execute its omnichannel retail strategy, and strengthen its balance sheet.
“We are pleased that the Company is raising capital and is ready to execute our plans while continuing to innovate for Indonesian consumers,” he said.
As of June 2021, the company’s shares are held by Multipolar 38.32 percent, Anderson Investment Pte Ltd 18.32 percent, Connery Asia Limited 7.55%, and public investors 35.81%.
As is known, Gojek became one of MPPA’s shareholders after buying a number of shares of Multipolar, MPPA’s controller (under 5%).
MLPL released MPPA’s share ownership to three investors, namely Panbridge Investment Ltd. which took the portion of 3.33% and PT Pradipa Darpa Bangsa 4.76%.
This company, Pradipa, is domiciled in South Jakarta and is engaged in professional, scientific and technical activity services. Pradipa Darpa Bangsa is owned by Gojek 99.996% and PT Dompet Application Karya Anak Bangsa aka GoPay 0.004%
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